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THE CITY OF Planning Commission „,prI ,,, Agenda Report LEASANTON. November 10, 2021 Item 2 SUBJECT: PX17-0904 APPLICANT/ PROPERTY OWNER: Stoneridge Properties, LLC (Simon Property Group) PURPOSE: Application to amend and extend the Stoneridge Shopping Center Development Agreement (DA), governing an approximately 362,790-square-foot shopping center expansion, for one year. LOCATION: Stoneridge Shopping Center (1008-1700 Stoneridge Mall Road) GENERAL PLAN: Retail/Highway/Service Commercial, Business and Professional Offices and Mixed Use ZONING: CR(M) — (Regional Commercial — Mall) and PUD—MU (Planned Unit Development — Mixed Use) District EXHIBITS: A. Draft Fourth Amendment to the DA for the Stoneridge Shopping Center B. Original DA with first, second and third amendments C. Pleasanton General Plan 2005-2025 Environmental Impact Report (EIR), and Housing Element and Climate Action Plan (CAP), General Plan Amendment and Rezonings Supplemental Environmental Impact Report (EIR) and Adopted Findings including Statement of Overriding Considerations (available upon request) D. Location and Notification Map STAFF RECOMMENDATION Staff recommends the Planning Commission adopt a resolution recommending: (1) the City Council find the proposed amendment to the Stoneridge Shopping Center Development Agreement to be exempt from the California Environmental Policy Act (CEQA) pursuant to Public Resources Code section 21083.3 and CEQA Guidelines section 15183; and (2) the City Council approve the proposed amendment and extension of the DA as set forth in Exhibit A. EXECUTIVE SUMMARY The applicant, Stoneridge Properties, LLC (Simon Property Group), proposes to amend and extend the Development Agreement (DA) for the Stoneridge Shopping Center by extending the term of the agreement by one year until December 2023. The applicant's proposal would be